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In the first half of calendar year 2006, engineering, construction, capital goods and electrical equipment manufacturers have received orders worth Rs 38,531 crore (Rs 385.31 billion) which is 140 per cent higher than the Rs 16,090 crore (Rs 160.90 billion) of orders received in the first half of last year.
Orders have been pouring in from Indian and foreign companies, central and state governments and local bodies for construction of roads, power plants, refineries, turnkey projects, electronic goods and water and irrigation works.
Engineering and constructions firms account for the largest slice of the pie with 28 firms receiving orders worth Rs 29,491 crore (Rs 294.91 billion).
In percentage term, they have bagged 76.54 per cent of the total orders. Larsen & Toubro, HCC, IVRCL Infrastructures, Punj Lloyd, Nagarjuna Constructions, Simplex Infrastructures and Gammon India top the list, receiving orders worth Rs 1,000 crore (Rs 10 billion) in the last six months.
"The fall in the Sensex does not signify the end of the road for the corporate sector. There have been a lot of activities and many new projects are being put up. It is only natural that the order books will swell," said an analyst.
Four capital goods firms - Gujarat Industrial Power (Rs 1,200 crore), Bharat Electronics (Rs 626 crore), RPG Transmission (Rs 302 crore) and Kalpataru Power Transmission (Rs 302 crore) - collectively bagged orders worth Rs 2,238 crore (Rs 22.38 billion).
Mercator Lines (Rs 810 crore) and ABG Shipyard (Rs 402 crore) together accounted for Rs 1,212 crore in orders.
The bulk of the orders, worth Rs 18,709 crore (Rs 187.09 billion), was awarded by central and state governments to build national highways, and power, water and irrigation projects.
Indian companies placed orders worth Rs 6,318 crore (Rs 63.18 billion) while for foreign companies the figure stood at Rs 6,405 crore (Rs 64.05 billion).
About 40 per cent of the total orders of Rs 38,531 crore (Rs 385.31 billion) has been for construction of power plants, capital goods, electrical equipment and turnkey projects.
The road development works account for orders worth Rs 7,197 crore (Rs 71.97 bilion) and irrigation, water and other projects Rs 945 crore (Rs 9.45 billion). Other sundry orders were to the tune of Rs 8,537 crore (Rs 85.37 billion).
Larsen & Toubro tops the list, bagging orders worth Rs 7,555 crore (Rs 75.55 billion). Among others, Hindustan Construction Company received Rs 5,026 crore (Rs 50.26 billion) worth of orders, SREI Infrastructure Finance bagged Rs 3,000 crore (Rs 30 billion) and IVRCL Infrastructure Rs 558 crore (Rs 5.58 billion).
L&T received overseas orders worth Rs 2,070 crore (Rs 20.70 billion) for engineering and construction works, including turnkey projects.
It bagged Rs 2,117 crore (Rs 21.17 billion) worth of orders from ONGC for the Vasai east development project and Rs 800 crore (Rs 8 billion) orders from Reliance for major construction services as well as supply of high-end electrical systems for its SEZ refinery and petrochemical project in Jamnagar, Gujarat.